In this review, we’ll talk about earnings on Genesis-mining.com – the most extensive cloud-mining service.
The project will be useful for those users who want to drop new cryptocurrencies, without investing in the purchase of expensive equipment. On the site, everyone can apply for the lease of capacities up to 25,000 GH/s, intended for the mining of Bitcoin, Dash, Monero and other well-known cryptocurrencies.
Genesis Mining submits User Contracts for rental of equipment for cryptocurrency production, installed in the data centers of the company. Due to this, you can start earning on mining without investing large sums of money and without knowing the technology of mining cryptocurrency.
Among the numerous cloud-based mining services, Genesis Mining project is one of the most famous and reliable ones.
It started about three years ago, and during this period gained an excellent reputation among users collecting only positive, impeccable reviews.
All Contracts offered for cloud mining of bitcoins and altcoins are sold for life. So, they are not limited in time.
At the moment, the physical data centers of Genesis are located in three regions of the world: in America, Europe, and Asia.
On the Internet, you can find inspiring photos of data centers in Iceland. Besides, you can have a look at the “live” data centers on their website to make sure of the physical existence of their farms for cryptocurrency production.
The office is located in Hong Kong. On the company’s website, you can find telephone numbers and the office address. In “CONTACTS” there is a list of crucial specialists who work for Genesis Mining. For example, the general director is Marco Strang, who takes part in various events, attends conferences and summits, and in total is a well-known media person.
The interface of the website is available in English, German, Russian, Arabic, Spanish, Portuguese and Chinese.
What services does genesis-mining.com provide?
Genesis Mining is continuously evolving and striving to maintain its leadership as the most competitive cloud mining services provider.
Genesis Mining gives you the opportunity to start mining for $26 only (the cost of the minimum contract is 100 GH/s).
Genesis Mining gives far not the highest revenue in cloud mining (within the year its annual profitability is 80-150%) and is even decreasing in conditions of significantly cheaper Bitcoin. But this company is disciplined to pay the income to its customers and is strict at doing this, while other companies stop paying. But, as you can see, this profitability indicator is times more profitable than foreign currency deposits in banks, which are still not trustworthy.
The Genesis Mining website is well executed and is not cluttered with unnecessary information and functionality; everything is extremely comfortable, concise and aesthetic.
When you register, just replenish the balance (replenishment is available by credit card, bank transfer, Bitcoin, Litecoin, Dogecoin or Darkcoin) and select the appropriate mining plan that suits you.
You will start extracting Bitcoins instantly. The owners of the purchased cloud mining capacities do not need to do anything – just watch the Bitcoins being removed automatically, once the balance is replenished and you have obtained the capacities.
Moreover, you can create your portfolio of Altcoins. It’s a unique opportunity to choose how the mining capacities you bought will be used. If you decide for yourself that you are ready to increase your mining capacity, just press “Raise Power.”
To select your account settings or different encryption options to add access protection in the form of two-factor authentication (2FA), just click on “MY ACCOUNT.”
Another bonus of cloud mining is the ability to use the promotion code. As a code, you can use the one of another user’s referral program. However, the provider has implemented a unique code for those users who do not trust that referral system.
After entering, you will receive a 3% discount for all products presented on the platform. The capacity transfer occurs right upon the payment is made, even if the transaction has not been confirmed in the blockchain. Capacities work – income grows.
What is the profitability of mining with genesis-mining.com?
Genesis customers are entitled to Contracts for the following currencies:
- Bitcoin using the SHA256 algorithm;
- Dash on X11;
- Ethereum by the algorithm of Ethash;
- Litecoin by Scrypt;
- Monero by the algorithm CryptoNight;
- Zcash using the Equihash algorithm.
All mining Contracts are concluded for two years.
Estimated calculation of the profitability of Genesis Mining
Genesis Mining yields an average of 80-150% per year. It depends on the complexity of the mining, the Bitcoin rate, and the selected tariff. With this level of return, the investments pay off (depending on the selected algorithm) as follows:
- SHA-256 – 4-5 months;
- Scrypt – 8-10 months;
- Ethash – 11-13 months.
Investments profitability allows you to track the profitability curves that can be found on the main panel in your account.
Cashing Out of genesis-mining.com
The purchase of a hashrate service can be paid in the following ways:
- by a bank card – a commission is charged, and the funds are credited after the card is verified;
- through the purses of the cryptocurrency Bitcoin, Dash, Litecoin, and Dogecoin.
After payment confirmation, the user will be redirected to the payment page. If the Contract is paid from a bank card, you must specify the name of its owner and the card details. While paying by the e-wallet, you need to send money to the specified address within 30 minutes.
To display each currency, you need to attach a purse in the “My Account – Settings – Purses” tab. Payments are made automatically every 24 hours.
How to register and buy a Contract
The interface of the service is very convenient. Not every company has its website translated into 18 foreign languages.
To register, click the button in the upper right corner of the main page. In the opened form, specify the email and password, click the “Register” button. The system will automatically redirect you to your account.
The next step is the purchase of a capacity Contract which is also as simple as ABC.
- Go to the “Buy Power Generated” section.
- Choose the currency.
- Specify the number of the hashrate and choose the payment method.
- Click “Continue”.
- Make payment.
Within a day after paying for capacity the first cryptocurrencies will start being earned, and within a day you will be able to withdraw the first payments.
To increase the payback on Genesis Mining, you can allocate the power for the currency which is most valuable for the moment, and this step will significantly affect the profitability of the investments. You just need to go to the “Power Distribution” menu, select the Contract and use the pie charts to distribute the hash. To start mining with the new parameters click “Save distribution.”
Advantages of Genesis Mining
If you are looking for a cloud mining service, this is probably one of the best ones you’ll find, for several reasons:
- the possibility of drilling six crypto-currencies and four tariffs for each of them;
- starts working immediately after payment;
- no hidden commissions;
- effective customer service;
- guarantee 100% uptime equipment;
- profitable affiliate program;
- daily fees payment.
Disadvantages of Genesis Mining
The main con of the service is:
- the opportunity to trade or sell their capacities is not available.
Prospectivity and reliability of the Genesis-mining.comSo, among the benefits of the company, there are its excellent reputation, available tariff plans, the ability to create a portfolio and distribute its capabilities for selected cryptocurrencies. There is also a referral program, as well as unique promotional codes.
The only drawback is the lack of possibility to sell your capacity if you decide to stop mining. Besides, most customers of Genesis Mining leave positive feedbacks, and this indicates that the service is working and brings a high income.
In this review, we highly recommend it as one of the best cloud-mining services.